Rapaport TradeWire May 12, 2022

May 12, 2022

Rapaport Weekly Market Comment - May 12, 2022 News: Market sentiment mixed as summer wedding season begins. US 8.3% April inflation fuels caution but positive retail momentum continues with jewelry sales +33%, Mastercard reports. Alrosa cancels rough sales, continues supplying Russia's Gokhran. Shortages anticipated. De Beers scales up Tracr blockchain as crisis accelerates traceability efforts. Savvy dealers seeking ethically sourced goods. RapNet bans diamonds sourced from Russia after Feb. 24, including polished manufactured outside Russia from Russian rough; introduces rough source field for polished. Sotheby's sells $36M (77% by lot). Christie's sells $70M (92% by lot), with pear-shape, 228.31 ct., G, VS1 diamond going for $22M.

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RAPNET DIAMOND INDEX (RAPI™) Size Weekly Monthly Y2Y 0.30 ct -0.1% -0.9% -0.2% 0.50 ct 0.0% -1.3% 9.0% 1.00 ct -0.3% -2.4% 22.9% 3.00 ct -0.1% -1.7% 26.5%

Market Reports United States: Vendors preparing inventories for Las Vegas shows… Belgium: Dealers maintaining firm discounts as buyers struggle to find top-quality diamonds… Israel: Some optimism that rough shortages will rebalance bloated inventory, but sales relatively weak… India: Price gap between fluorescent and nonfluorescent diamonds widening… Hong Kong: Mainland China slow as lockdowns continue in Shanghai and other key cities…

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A Wake-Up Call from Russia By Avi Krawitz Just as Covid-19 catalyzed the move to digital, the war in Ukraine may be the push the industry needs to step up its responsible sourcing.

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Webinar: Automated Grading and the AI Revolution Tuesday, May 17, at 10 a.m. EDT With artificial intelligence (AI) having an increasing impact on our everyday lives, is the industry ready to embrace technology when it comes to diamond certification? This session will look at how automated grading works and what role it will play in the pipeline.

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Podcast: Retro Jewelry From the Jewelry Connoisseur blog Sotheby's Geneva jewelry specialist and director Marie-Cécile Cisamolo shares her passion for the Retro period, highlighting some of the iconic pieces from the mid-1930s to the '50s.

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Top Stories of the Week Rapaport Bans Russian Diamonds Policy encompasses all polished goods from Russian rough, irrespective of where the manufacturing took place.   SEE MORE   Russia Crisis Prompts De Beers to Fast-Track Tracr Chief brand officer David Prager explains the miner's expansion of its blockchain platform for verifying diamond origin.   SEE MORE   228ct. Diamond Brings In $22M at Christie's The Rock is the largest white stone ever to sell at auction, company says.   SEE MORE   Sotheby's Scores $36M at Geneva Sale Fancy-intense-purple-pink diamond was top seller, going for $5.6 million.   SEE MORE   Webinar: Diamonds in the Metaverse Another chance to watch the second episode in a three-part series on the key developments influencing the industry's future.   SEE MORE   Jewelry Sales Remain Buoyant in April Revenue for category up 33% year on year, according to Mastercard SpendingPulse.   SEE MORE

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